Elon Musk went on trial in a San Francisco federal court for securities fraud on Friday. The Tesla CEO took the stand to defend some tweets he posted in August 2018, which reached tens of millions of people, CNBC wrote. According to the tweets, he had secured funding to take Tesla private for $420 per […]
It’s been a rough start of 2023 for crypto companies and their employees. In the first two weeks, there were over 1,600 job cuts in the space due to uncertainty and market volatility. Against the backdrop of the prolonged crypto winter, digital asset exchange Crypto.com laid off 20% of its global workforce. Coinbase laid off 25% […]
Bank of America CEO Brian Moynihan told investors in a call on Friday that the bank was getting ready for a potential recession this year, including a situation where one could see unemployment rates skyrocket. He said: Our baseline scenario contemplates a mild recession. … But we also add to that a downside scenario, and […]
According to a study on banks and fintech companies by Alloy, a leading identity decisioning platform, 27% lost over $1 million to fraud last year. The remaining respondents lost more than $500,000, with regional banks and fintech companies the most likely to report greater losses. 31% of banks and 37% of fintech companies reported losing […]
Goldman Sachs Group will start eliminating thousands of employment positions company-wide from Wednesday, Reuters reported, citing two insiders. The bank is preparing for a tough economic situation in the coming year. Just over 3,000 job cuts are expected according to one of the sources. No final number has been decided on yet. At the end […]
The much anticipated 12th NextGen Payment & RegTech Forum is taking place on 2-3 November 2022, at the 5-star Amathus Beach Hotel & Resort in Limassol, Cyprus. The 12th NextGen Payments & RegTech Forum is a unique gathering of renowned global decision-makers across the entire Payments and RegTech community. AGENDA highlights: The Evolving Payments Technology […]
Climate Fintech is a new and growing industry with immense potential. It is defined as the use of technology to develop financial products and services that aim to help people make more environmentally-friendly choices and reduce their carbon footprint. According to MoneyTransfers.com, Europe has the most Green Fintechs at 229. Speaking on the data, the […]
Despite escalating economic concerns, JPMorgan Chase & Co. announced plans to hire another 2,000 tech engineers by the end of 2023, Fox Business wrote, quoting a Reuters report. Lori Beer, chief information officer of the institution, said they were hiring for a few thousand tech roles all over the world for positions in cybersecurity, data […]
Indian tycoon Gautam Adani just ousted Jeff Bezos as the second-richest person in the world. He has been climbing the ranks of Bloomberg’s Billionaire Index rapidly, CNN wrote. While Elon Musk remains the richest hectobillionaire with $260 billion, he’s facing tough competition from Adani, who started 2022 as the 14th richest, but is already the […]
The financial technology sector has been one of the hottest investment areas over the past few years. London has been a leading global hub for fintech investment, with more deals and more money raised than any other city. MoneyTransfers.com reports that London has successfully attracted the most fintech investment, reaching $3.1 billion in 2022. CEO […]